Learning in Economic Systems with Expectations Feedback
Author:   Jan Wenzelburger
Publisher:   Springer
ISBN:  

9781280716652


Pages:   176
Publication Date:   01 January 2006
Format:   Undefined
Availability:   Available To Order   Availability explained
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Learning in Economic Systems with Expectations Feedback


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Overview

Recently economists have more and more focussed on scenarios in which agents' views of the world may be erroneous. These notes introduce the concept of perfect forecasting rules which provide best least-squares predictions along the evolution of an economic system. The framework for nonparametric adaptive learning schemes is developed and it is argued that plausible learning schemes should aim at estimating a perfect forecasting rule taking into account the correct feedback structure of an economy. A link is provided between the traditional rational-expectations view and recent behavioristic approaches.

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Author:   Jan Wenzelburger
Publisher:   Springer
Imprint:   Springer
ISBN:  

9781280716652


ISBN 10:   1280716657
Pages:   176
Publication Date:   01 January 2006
Audience:   General/trade ,  General
Format:   Undefined
Publisher's Status:   Active
Availability:   Available To Order   Availability explained
We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately.

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